MONTPELIER, Vt. (AP) — The state of Vermont has trimmed $12.6 million from the current state budget, but officials don't think it will cause any pain to the state's residents.

Rather than cuts to programs, lawmakers closed the budget gap with a series of savings and additional revenue, including $4.5 million savings in Medicaid spending and $3.5 million in additional fee revenue from the Department of Financial Regulation.

The Legislature's Joint Fiscal Committee approved the package at the Statehouse on Thursday.

The cuts came after economic forecasts estimated state revenues would be less than originally anticipated. Sen. Jane Kitchel, the Democratic chairwoman of the Senate Committee on Appropriations, says they've closed the gap with little or no impact on Vermonters.